Fitch ups Indonesian banks view to positive

Fitch Ratings said it revised the outlook on the long-term foreign- and local-currency ratings of 10 Indonesian banks to positive from stable while affirming all of their other ratings.

Bank Mandiri's long-term foreign- and local-currency issuer default ratings were affirmed at BB-, its short-term rating at B, national long-term rating at AA(idn), individual rating at D and support rating at 4.

Bank Central Asia's long-term foreign-currency issuer default rating was affirmed at BB-, short-term rating at B, national long-term rating at AA(idn), individual rating at C/D and support rating at 4.

Bank Negara Indonesia's long-term foreign and local-currency issuer default ratings were affirmed at BB-, short-term rating at B, national long-term rating at A+(idn), individual rating at D and support rating at 4.

Bank Rakyat Indonesia's long-term foreign-currency issuer default rating was affirmed at BB-, short-term rating at B, national long-term rating at AA+(idn), individual rating at C/D and support rating at 4.

Bank Danamon's long-term issuer default rating was affirmed at BB-, short-term rating at B, national long-term rating at AA-(idn), individual rating at C/D and support rating at 4.

Bank Internasional Indonesia's long-term foreign-currency issuer default rating was affirmed at BB-, short-term rating at B, national long-term rating at AA-(idn), individual rating at C/D and support rating at 4.

Bank Niaga's long-term foreign-currency issuer default rating was affirmed at BB-, individual rating at D and support rating at 4.

Bank Lippo's long-term foreign-currency issuer default rating was affirmed at BB- , short-term rating at B, national long-term rating at A+(idn), individual rating at D and support rating at 4.

Bank NISP's long-term foreign- and local-currency issuer default ratings were affirmed at BB-, short-term rating at B, national long-term rating at AA+(idn), individual rating at C/D and support rating at 3.

Bank Buana's long-term foreign- and local-currency issuer default ratings were affirmed at BB-, short-term rating at B, national long-term rating at AA+(idn), individual rating at C/D and support rating at 3.

The revision follows a similar change made to the outlook of the Indonesian sovereign's ratings with its foreign- and local-currency issuer default ratings affirmed at BB-.

The corresponding ratings of the Indonesian banks are constrained by the sovereign rating, Fitch said. Although, the agency said, prospects for more favorable operating conditions this year should be positive for debt servicing ability, loan demand and funding costs.

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